APG Asset Management N.V. Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

APG Asset Management N.V. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 70.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,640 shares of the company's stock after purchasing an additional 8,981 shares during the period. APG Asset Management N.V. owned approximately 0.13% of AutoZone worth $66,916,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in AutoZone during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone in the 4th quarter valued at about $32,000. Harbour Investments Inc. increased its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of AutoZone during the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC increased its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Up 1.1 %

AZO traded up $40.85 during midday trading on Friday, hitting $3,656.09. 144,421 shares of the company were exchanged, compared to its average volume of 133,434. The firm has a market capitalization of $61.36 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The company's 50 day simple moving average is $3,556.50 and its 200 day simple moving average is $3,325.86. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81.

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AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

AZO has been the topic of several research reports. Morgan Stanley upped their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Guggenheim raised their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Evercore ISI boosted their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, March 5th. Finally, DA Davidson raised shares of AutoZone from a "neutral" rating to a "buy" rating and upped their price objective for the company from $3,500.00 to $4,192.00 in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $3,724.00.

Insider Activity at AutoZone

In other news, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares of the company's stock, valued at $619,401.63. This represents a 92.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,721 shares of company stock worth $24,609,331 in the last three months. Company insiders own 2.10% of the company's stock.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.